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20130124
20130201
Search Results 0 to 11 of about 12 (some duplicates have been removed)
the debt ceiling ultimately unless they get severe spending cuts and the obama administration is not going to give it to them. you're going to watch the u.s. do crazy, crazy things this year. >> he was pretty clear. he called it crazy. i talked to eric cantor earlier, the republican majority leader. he sort of said we're ready to deal and compromise, but people are very worried about what the u.s. could do. >> oh, and this latest decision to just kick the can, i hate to use the cliche, further down the road, axel neighbor is a former central banker in europe, also the head of ubs and he was absolutely in no doubt that what we are seeing in the u.s. in the political and economic process is dangerous. >> if you have the debt ceiling, the europeans will talk about how you can make that binding. in the u.s., the concern is much more whether you can lift it in time in order not to put too much break on the economy. now, the u.s. economy has bottomed out, it's coming back, and i think sooner or later the u.s. has to face the fiscal issue not just in the sense of delaying adjustment but really ma
congress voted to suspend the debt ceiling for three months this week, effectively raising the country's borrowing limit while they figure out deeper cuts to reduce the deficit. that keeps me employed for at least a few more months. even before that deadline hits again, march 1st will be on us, the so-called sequester deadline. that's a stupid washington name for a stupid and dangerous washington creation, the automatic across-the-board spending cuts. then there's another date to worry about, april 15th. not just tax filing day but the date by which congress has promised to adopt a budget resolution. they even this time stake their pay on it, agreeing to reach a deal or face suspension of their paychecks until they reach a deal. that might just be enough of a carrot to make them actually present a budget that takes on our a bah looning deficit. but that battle may make the recent battle over tax hikes for the rich seem like a friendly game of badminton. big spending cuts are needed and they will hit americans where it hurts -- in their entitlements. i'm talking about health
. and i should addo that, a constitutional crisis in a way because this whole debt ceiling has been a weapon that the house of representatives have used to gain power. it's not just the republicans versus the democrats. it's the house versus the president. i don't know how it the play out. >> meanwhile, the marketses are on fire. the s&p 500 hitting a new five-year high along with the dow jones industrial average. what is driving the stocks and do you think it's sustainable for the year? >> the part of it that i understand is that some of the risk has been pulled out of the market. so most recently that the u.s. has got three months before the next thing happening. some of the risks. and maybe just the election was determined and people aren't necessarily happy, some are, some aren't. but it's solved. take some uncertainty away. markets don't like uncertainty. so even though it wasn't very likely the european would fall apart, even though it wasn't very likely the u.s. would fall on its debt, pulling it out of the equation lifted markets a lot. >> meanwhile, new appointment, in the
think the sequester will happen. we cannot lose the spending cuts. that was to pay for the last debt ceiling increase. >> one of the nations largest federal contractors, general dynamic, announced in recent days a $2 billion loss which it is blaming on defense cuts and falling government demand. >> the measures will have to be taken. layoffs and the defense industry. most importantly to me, devastating growth to our national security at the sequestration takes place. it is up to congress and the president to act together. frankly, so far, i have not been the type of urgency that many of us feel about sequestration and its implementation. >> it seems that the war being wound down in afghanistan that the real fight is beginning at home for tighter budgets. melissa: jennifer griffin, thank you very much. illinois heading to disaster. joining us now, dan rutherford. that is coming up. lori: are you overeducated and underemployed? the new normal of this job recovery. ♪ . . . .. [ male announcer ] where do you turn for legal matters? at legalzoom, we've created a better place to handle y
republican amendments, though, including matching spending cuts for every dollar increase in the debt ceiling. those amendments expected to be defeated. the bill won't technically raise the debt ceiling, but it will suspend it until may 19th when it will be raised by the amount that the treasury borrows in the interim. that's how it's going to work. and markets, as we've been talking about on a tear this month with the dow having its best january in decades. but will yesterday's surprising drop in gdp reign in the bulls, it says here? let's get a read on the state of the economy. at least it wasn't a -- that kind of rein. there's three of them. anyway, joining us for the next hour is bob bruska. that's fao -- >> no. you cannot. >> fao economics. as becky said at the top, things are going to go really well or the market is going to have an '87 crash. >> i like the binary outlook. >> everything you said was so good until you gout to that point. >> he usually wears one of these very clever ties. >> i'm not going to give him any -- >> there you go, joe. >> you didn't forget because you are gettin
with the debt ceiling. so the sequester is the next thing that republicans -- >> yes, sequester and the budget. and, i don't know what richard things, but my view was -- >> hasn't been a budget in four years -- >> there has been a budget. not a stand-alone budget. they just keep continuing the budget that already exists. >> is that a problem? >> it can be a problem. >> how do you -- >> i think it was -- i blame partisanship in washington. i don't think that's any one person's fault by any means. i think not making the fight about the debt ceiling, which has the unfortunate downside that if you mess it up, the u.s. government defaults, and it's a financial catastrophe, this was a sign of maturity. i think on the republicans' part that let's make it about the budget. so the budget is now going to come to so-called continuing resolution. they're going to have to have a fight about a government shutdown. this is what they should be arguing about. what does the government spend money on? what should it spend money on? how much revenue should be coming in? let's make the argument about that, not abo
the senate passes a budget. and we're not going to just keep raising the debt ceiling. we're going to make a down payment on debt reduction, and we're going to point the country in the right direction, we're going to cut spending. [applause] you know, there will be times p when conservatives disagree on the way forward. we've never marched in lockstep. that's not what we do. a healthy debate is a good and needed thing. we can deliberate in private without fighting in public. all we should ask of each other is that we give an honest account of our actions and their reasons for them. we should challenge the left, not each other. and if we take the prudent course, you know what? we'll be in really good company. our founders were men of prudence. take james madison. nowadays we call him the founder, the father of the constitution. but at the constitutional convention, he lost some key arguments. you know, he fought the plan to give each state the same number of seats in the senate. he thought it was deeply unjust. and at first he wants -- he wanted congress to be able to veto state laws n. bot
Search Results 0 to 11 of about 12 (some duplicates have been removed)